By Seun Ibiyemi The Nigerian Railway Corporation (NRC) has said it will address ticket racketeering at the Abuja-Kaduna Train Service (AKTS). The Deputy Director, Public Relations of NRC, Yakub Mahmood gave the assurance in a statement in Lagos. “Information has…
By Seun Ibiyemi According to the Nigeria Extractive Industries Transparency Initiative (NEITI)’s 2022 and 2023 Independent Oil and Gas Industry Report released last weekend in Abuja, about 7.68 million barrels of crude were either stolen or lost in Nigeria in…
The Nigeria Deposit Insurance Corporation (NDIC) has adopted the Nigeria Inter-Bank Settlement System (NIBSS) to pay insured depositors of the now-defunct Heritage Bank, citing limitations in the Remita payment platform. NDIC’s Deputy Director at the Enugu Zonal Office, Pamela Roberts,…
The Federation Allocation Accounts Committee (FAAC) has deducted N622.75 million over a 15-month period to repay loans disbursed to farmers under the Central Bank of Nigeria’s (CBN) Anchor Borrowers Programme. The Anchor Borrowers Programme, launched by the CBN in November…
By Seun Ibiyemi The Central Bank of Nigeria (CBN) under Governor Yemi Cardoso has seen a significant boost in Nigeria’s banking reserves, reaching N26.8 trillion in August 2024, up from N19.4 trillion a year earlier. This surge follows the CBN’s…
The Minister of Budget and Economic Planning, Alhaji Atiku Bagudu, says the Federal Government under Renewed Hope Infrastructure Fund has approved over N350 billion to support dams and expansion of facilities across Nigeria. Bagudu, made this known while fielding questions…
Wema Bank has bagged two awards of excellence, namely Small and Medium Enterprises (SME) Financier of the Year (Africa) and Platinum Award for Best Financier for Women Entrepreneurs (Africa). The Managing Director/ Chief Executive Officer of the bank, Moruf Oseni,…
Afrinvest (West Africa) Limited (“Afrinvest”), through its wholly owned subsidiary, Afrinvest Asset Management Limited, a fund manager licensed by the Securities and Exchange Commission (SEC), has announced a strategic integration with Western Union, a global leader in money transfer services.…
The Nigeria Deposit Insurance Corporation (NDIC), says plans are ongoing to pay depositors of the defunct Heritage Bank whose deposits exceed N5 million. The Managing Director of NDIC, Mr Bello Hassan said this at the 2024 workshop for Financial Correspondents…
…As PTAD denies widespread problems By Esther Agbo A group of federal pensioners under the umbrella of Concerned Federal Pensioners has raised fresh allegations against the Pension Transitional Arrangement Directorate (PTAD), accusing the agency of neglecting to resolve their outstanding…
